When we return to his five-star hotel suite Meat Loaf is completely relaxed. The nerves have gone and he morphs into the larger-than-life character more aligned to his stage persona. He is entertaining - if unpredictable - company, mischievously leading the conversation off on tangents and down numerous entertaining blind alleys.

Meat Loaf has a lot to talk about. He claims his latest album, Hang Cool Teddy Bear, is the greatest of his phenomenal rock career. Quite a boast when you consider his classic 1977 album, Bat Out Of Hell - with songs written by Jim Steinman - has shipped in excess of 40 million copies worldwide. But Meat Loaf is deadly serious.

He says: "Hang Cool is the best record of my life. Some people will argue, how can you say it's better than Bat Out Of Hell? But it is.

"On Bat I didn't like You Took The Words Right Out Of My Mouth. Every time it came on I wanted to skip it. Jim hated All Revved Up With No Place To Go which he thought was too rocky. There were all kinds of things we would change.

"But on Hang Cool there is not a single moment of vocal or track I'm not happy with. When I make an album I listen to it two or three times at most then I put it to bed. I must have played Hang Cool 150 times in my car. I've also hosted listening parties all over the world. Either I'm really sick or the record is really good. I prefer the latter."

Hang Cool Teddy Bear - whose title comes from the 1970 Russ Meyer movie Beyond The Valley Of The Dolls - features songs written by Jon Bon Jovi and ex-Darkness' singer Justin Hawkins. Special guests include Queen guitarist Brian May and actor Jack Black.

But the biggest surprise is the appearance of Hugh Lawrie, star of Blackadder and US medical drama House. Meat Loaf discovered Hugh was a classically-trained pianist and invited him to play on If I Can't Have You.

He says: "I watched an episode of House where Hugh played piano. I thought, wow this guy can play.

"Hugh was very nervous to start with but producer Rob Cavallo took him outside the studio and they talked motorcycles for a while. That helped calm his nerves. Hugh walked in, sat down at the piano and did a great job on the track."

Meat Loaf psyches himself up to nail the perfect performance from his operatic-style voice.

The singer says: "I'm a one-take kind of guy but only after six hours. I sit for ages trying to find the character or motivation for each song to get into the mindset to achieve my best vocal. I'm tough on myself. Love Is Not Real, written by Justin Hawkins, was a bitch to sing. There are some notes I really had to go for but I got 'em."

Bat Out Of Hell is the fifth best-selling pop record of all time and features the epic title track plus hits Paradise By The Dashboard Light and You Took The Words Right Out Of My Mouth. He still can't believe the album made such an impact.

He laughs: "I'm very proud but I would dispute the 40 million people statistic. I think it's more likely that 10 million people have bought it four times over.

"The Eagles Greatest Hits is the biggest-selling album of all time. I must have bought 50 copies of that record. I'm always scratching them, lending them to friends and never getting them back or leaving them in the back of the car and they melt in the sun.

"It's mind blowing to think there are 40 million copies of my record out there. Bat Out Of Hell helped change people's lives. I took part in a TV show about a kid who was badly injured in a motorcycle accident and was in a coma. His mum played Bat Out Of Hell at his bedside every day and he finally woke up. I joked he probably emerged from the coma and shouted, 'Mum, turn that darned thing off'. Those are the moments which make it all worthwhile."

The singer has enjoyed a successful parallel career as an actor. His film credits include The Rocky Horror Picture Show, Spice World and Tenacious D in the Pick Of Destiny. He's a TV regular on South Park, The Outer Limits and was a judge on ITV reality series Popstar To Operastar.

But in 2007, Meat Loaf feared his singing career could end in disaster. During a gig at Metro Radio Arena in Newcastle he stunned fans by announcing his "retirement" on stage saying, "Thank you for coming ... but I can no longer continue" before cancelling a European tour.

He says: "I was exhausted and basically had an emotional breakdown on stage. I had a cyst on my vocal chords and the tour organisers pushed me too far by booking too many shows. I didn't have enough time to rest or recover. People will say five extra shows doesn't sound too much but at my age that's a lot.

"I opened my mouth to sing and nothing came out. I knew something was really wrong. At that moment in time I was deadly serious, I was finished. I was in such a state of shock I didn't leave the venue until 3am."

Now the singer is a strict vegetarian and is a shadow of his former self, having shed much of his 18-stone bulk. He's planning a return trip to Glasgow with wife Deborah Gillespie - whose family are Scottish - later in 2010 to play a concert. The only time he'll break cover is to go for a curry at his favourite Indian restaurant.

He adds: "I try to avoid people recognising me at all costs. I'm much happier walking through airports where people don't talk to me. Some people do all this rock stuff to become a celebrity. Not me. I always quote Billy Joel who said, 'I want a free beer and to get laid'."